I have a balance on Wells Fargo credit card I’d like... - Balance Transfers Questions


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Credit Card Applications » Questions » User Questions » Balance Transfers » I have a balance on Wells Fargo credit card I’d like to transfer. But the card I’m considering...

I have a balance on Wells Fargo credit card I’d like to transfer. But the card I’m considering applying for charges a balance transfer fee. Should I avoid it or go ahead?

Answered on | Updated on June 28th, 2018
The content is accurate at the time of publication and is subject to change.

As a general rule, people don’t like paying fees. But sometimes, fees are worth paying. In the case of a balance transfer, it’s often well worth paying a 3%-5% fee on the balance, if it’s a significant amount, and if your interest rate, or APR, is very high. You can do the math yourself, but it’s even easier to find an online debt calculator that will do it for you. You can enter how much you owe, what your interest rate is, and how much you pay per month, and you’ll find out exactly how long it will take you to pay off the debt, plus how much interest you’ll pay over the life of the loan. Then you can calculate the balance transfer fee and look at the difference. Another option is to search for a no-fee balance transfer offer. They are not as plentiful as they once were, but if you have excellent credit, you can still find them out there if you really look. Consider balance transfer credit cards that are good for you.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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Intro APR on Balance Transfer: 0% 12 months on Balance Transfers

Ongoing APR on Balance Transfer: 15.74% - 25.74% (Variable)

Balance Transfer Fee: 3% of each balance transfer; $5 minimum.

Excellent, Good Credit

Intro APR on Balance Transfer: 0% (first 12 billing cycles following each balance transfer that posts to your account within 45 days of account opening)

Ongoing APR on Balance Transfer: 18.24%, 22.24% or 25.24% variable based on your creditworthiness

Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater

Good/Excellent Credit
See Rates & Fees

Intro APR on Balance Transfer: 0% Intro APR for 12 months

Ongoing APR on Balance Transfer: Variable APR of 15.24%, 19.24% or 25.24%

Balance Transfer Fee: Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check

Good, Excellent Credit
See Rates & Fees

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